Note: Amounts may not total due to rounding.

1 Represents a non-GAAP financial measure. For important presentation information, see slide 28.

22Q19 Highlights(Comparisons are to 2Q18)

Earnings Returns and Efficiency

• Diluted earnings per share of $0.74, up 17% • Return on average assets of 1.23% improved 6 bps • Record net income of $7.3B, up 8% • Return on average common shareholders’ equity of 11.62% increased 87 bps • Operating leverage of >200 bps – Total revenue up 2% to $23.1B • Return on average tangible common shareholders’ equity of 16.24% improved 109 bps 1 – Noninterest expense stable at $13.3B • Efficiency ratio of 57% improved 117 bps • Strong asset quality • Average diluted common shares down 7% to 9.6B

Client Balances Capital and Liquidity

• Average loans and leases in business segments grew 4% • $171B of Common Equity Tier 1 Capital (CET1) and CET1 ratio of 11.7% 3 – Consumer and commercial each up 4% • $552B of average Global Liquidity Sources 4 • Average deposits increased $75B, or 6% • Plan to return $37B of capital to common shareholders over • GWIM total client balances of $2.9T, up 5% next four quarters – Assets Under Management (AUM) of $1.2T included $24B ‒ 20% increase in quarterly dividend of AUM flows since 2Q18 ‒ More than $30B in gross share repurchases • Consumer investment assets of $220B increased 15% 2 • Book value per share increased 10% to $26.41 – $24B of client flows since 2Q18

1 Represents a non-GAAP financial measure. For important presentation information, see slide 28. 2 Consumer investment assets include client brokerage assets, certain deposit sweep balances and assets under management in Consumer Banking. 3 Regulatory capital ratios at June 30, 2019 are preliminary. The Company reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that

yields the lower ratio is used to assess capital adequacy, which for CET1 is the Standardized approach for 2Q19. 3 4 See note A on slide 25 for definition of Global Liquidity Sources.Record First Half Net Income Diluted Earnings per Share Net Income ($B)

Per Share Data

1 Excludes loans and leases in All Other.

2 See note A on slide 25 for definition of Global Liquidity Sources. 3 Represents a non-GAAP financial measure. For important presentation information, see slide 28. 4 Regulatory capital metrics at June 30, 2019 are preliminary. The Company reports regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields

the lower ratio is used to assess capital adequacy, which for CET1 is the Standardized approach for 2Q19. 8Average DepositsBank of America Ranked #1 in U.S. Deposit Market Share 1

1 All Other consists of asset and liability management (ALM) activities, equity investments, non-core mortgage loans and servicing activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass certain residential mortgages, debt securities, and interest rate and foreign currency risk management activities. Substantially all of the results of ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture, as 23 well as a portfolio of equity, real estate and other alternative investments.AppendixNotesA Global Liquidity Sources (GLS) include cash and high-quality, liquid, unencumbered securities, limited to U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity among legal entities may be subject to certain regulatory and other restrictions.B Revenue for all periods included net debit valuation adjustments (DVA) on derivatives, as well as amortization of own credit portion of purchase discount and

realized DVA on structured liabilities. Net DVA gains (losses) were ($31MM), ($90MM), ($179MM) and ($159MM) for 2Q19, 1Q19, 2Q18 and 2Q17, respectively. Net DVA gains (losses) included in FICC revenue were ($30MM), ($79MM), ($184MM) and ($148MM) for 2Q19, 1Q19, 2Q18 and 2Q17, respectively. Net DVA gains (losses) included in Equities revenue were ($1MM), ($11MM), $5MM and ($11MM) for 2Q19, 1Q19, 2Q18 and 2Q17, respectively.C VaR model uses historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Using a 95% confidence level, average VaR was $19MM, $21MM, $17MM and $23MM for 2Q19, 1Q19, 2Q18 and 2Q17, respectively.

E Forrester 2018 Banking Sales Wave: U.S. Mobile Sites.

F Inside Mortgage Finance, 1Q19.

G Experian Autocount; Franchised Dealers; Largest percentage of 680+ Vantage 3.0 originations among key competitors as of April 2019.

H J.D. Power, January 2019.

I U.S.-based full-service wirehouse peers based on 1Q19 earnings releases.

J Industry 1Q19 call reports.

K The Banker, 2018.

L Greenwich, 2018.

M Global Finance, 2018.

N Thomson Reuters, 2018.

O Institutional Investor, 2018.

P Refinitiv, 2019.

26Forward-Looking StatementsBank of America Corporation (the “Company”) and its management may make certain statements that constitute “forward-looking statements” within the meaning of thePrivate Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-lookingstatements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similarexpressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Company’s currentexpectations, plans or forecasts of its future results, revenues, expenses, efficiency ratio, capital measures, strategy, and future business and economic conditions moregenerally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties andassumptions that are difficult to predict and are often beyond the Company’s control. Actual outcomes and results may differ materially from those expressed in, or impliedby, any of these forward-looking statements.

You should not place undue reliance on any forward-looking statement and should consider the following uncertainties and risks, as well as the risks and uncertainties morefully discussed under Item 1A. Risk Factors of the Company’s 2018 Annual Report on Form 10-K and in any of the Company’s subsequent Securities and ExchangeCommission filings: the Company’s potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedingsand enforcement actions; the possibility that the Company’s future liabilities may be in excess of its recorded liability and estimated range of possible loss for litigation,regulatory, and representations and warranties exposures; the possibility that the Company could face increased servicing, fraud, indemnity, contribution, or other claimsfrom one or more counterparties, including trustees, purchasers of loans, underwriters, issuers, monolines, private-label and other investors, or other parties involved insecuritizations; the Company’s ability to resolve representations and warranties repurchase and related claims, including claims brought by investors or trustees seeking toavoid the statute of limitations for repurchase claims; the risks related to the discontinuation of the London InterBank Offered Rate and other reference rates, includingincreased expenses and litigation and the effectiveness of hedging strategies; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the riskthat those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Company’s exposures tosuch risks, including direct, indirect and operational; the impact of U.S. and global interest rates, inflation, currency exchange rates, economic conditions, trade policies,including tariffs, and potential geopolitical instability; the impact of the interest rate environment on the Company’s business, financial condition and results of operations;the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments withrespect to U.S. or global economic conditions and other uncertainties; the Company’s ability to achieve its expense targets and expectations regarding net interest income,net charge-offs, effective tax rate, loan growth or other projections; adverse changes to the Company’s credit ratings from the major credit rating agencies; an inability toaccess capital markets or maintain deposits or borrowing costs; estimates of the fair value and other accounting values, subject to impairment assessments, of certain of theCompany’s assets and liabilities, including the Company’s merchant services joint venture; the estimated or actual impact of changes in accounting standards or assumptionsin applying those standards, including the new credit loss accounting standard; uncertainty regarding the content, timing and impact of regulatory capital and liquidityrequirements; the impact of adverse changes to total loss-absorbing capacity requirements and/or global systemically important bank surcharges; the potential impact ofactions of the Board of Governors of the Federal Reserve System on the Company’s capital plans; the effect of regulations, other guidance or additional information on theimpact from the Tax Cuts and Jobs Act; the impact of implementation and compliance with U.S. and international laws, regulations and regulatory interpretations, including,but not limited to, recovery and resolution planning requirements, Federal Deposit Insurance Corporation assessments, the Volcker Rule, fiduciary standards and derivativesregulations; a failure in or breach of the Company’s operational or security systems or infrastructure, or those of third parties, including as a result of cyber-attacks; theimpact on the Company’s business, financial condition and results of operations from the planned exit of the United Kingdom from the European Union; the impact of afederal government shutdown and uncertainty regarding the federal government’s debt limit; and other similar matters.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect theimpact of circumstances or events that arise after the date the forward-looking statement was made.

27Important Presentation Information• The information contained herein is preliminary and based on Company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying slides. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided.• The Company may present certain key performance indicators and ratios, including year-over-year comparisons of revenue, noninterest expense and pretax income, excluding certain items (e.g., DVA) which result in non-GAAP financial measures. The Company believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. For more information about the non-GAAP financial measures contained herein, please see the presentation of the most directly comparable financial measures calculated in accordance with GAAP and accompanying reconciliations in the earnings press release for the quarter ended June 30, 2019 and other earnings-related information available through the Bank of America Investor Relations website at: http://investor.bankofamerica.com.• The Company views net interest income and related ratios and analyses on a fully taxable-equivalent (FTE) basis, which when presented on a consolidated basis are non-GAAP financial measures. The Company believes managing the business with net interest income on an FTE basis provides investors with a more accurate picture of the interest margin for comparative purposes. The Company believes that the presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. The FTE adjustment was $149MM, $153MM, $155MM, $151MM and $154MM for 2Q19, 1Q19, 4Q18, 3Q18 and 2Q18, respectively.• The Company allocates capital to its business segments using a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Company's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile, and strategic plans.